The Germans save a lot, the most stubborn men! Here’s the reasons

The Germans have no problem getting loans, but prefer to have savings in the event of an unpredictable situation so that the loan is more favorable. But the Germans are more concerned about old age: there are less and less young people, more and more elderly, and few believe that their pensions will be enough for at least a good life in their old age. Saving for old age is the most important goal of saving in Germany. Almost 61 percent of the respondents mentioned it as their main motive, the highest since the spring of 2017. Thus reads a survey conducted by the Institute of Public Opinion Kantar, made for the Association of Private Banks of Savings. 2,000 people were surveyed.

But saving for larger purchases, such as furniture or a car, is also important – over 46 percent of respondents said they have set aside money for this purpose.

39% save for « their four walls »
Savings for home and residence have recently changed. First, in the era of price growth, the loans were unfavorable – because such savings are usually just a deposit for a loan, and in addition, real estate prices have increased significantly, as some have come to the conclusion that they will never be able to afford the apartment or home purchased.

Now again about 39 percent of respondents are saving for the purchase of an apartment or house, which is just less than a year ago (42 percent), but significantly more than in the fall of 2024 (33 percent).

35 percent of respondents cited capital investments as a motive for saving. Almost six percent save « for emergencies » and four percent for children’s education.

« The end of the period of low interest rates has clearly shown people that saving is worth again – and that it is necessary. Removing expenses today creates greater freedom tomorrow, » says Christian König, executive director of the private housing savings Association.

However, the interest in deposits increased at a time when inflation was high. Since it is now sitting, it remains to be seen what will happen to interest. But saving for old age is an exception to current interest rates for another reason: « People are increasingly understanding that state pension will not be enough. »

Women often save very little for old age
Those who save for old age should also consider their longevity, and here the research noticed a strange detail. According to research by the Federal Institute for Demographic Research (BB), middle -aged women often underestimate how long they will live – while men of the same age are extremely optimistic.
Study author Anna Reuter explains: « Research shows that people who underestimate how lives are left to invest less in their pension security. » This can lead to a lower pension and a higher risk of poverty in old age.

Thus, men aged 40 to 49 assumes on average that they will live 1.2 years longer than statistics – currently in Germany should be 79.2 years, but they « round up » to more.

Women of the same age, on the other hand, underestimate their longevity – with an average of 3.3 to 5 years, because statistics show that they will live longer than men and live up to 83.9 years.

One of the authors of the study, Andreas Mergenthaler, points out that especially for women, financial security in old age is a growing problem. They not only expect a shorter life, but on average, they gain significantly more reduced men, which in the future may be an even greater financial problem.